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Accenture delays its promotion cycle from December to June, citing better mid-year visibility into client strategies. This move comes amid economic challenges in the consultancy sector, with a 5% stock drop and tightening corporate spending.

Accenture Pushes Promotion Cycle by 6 Months—Here’s Why!

Accenture delays its promotion cycle from December to June, citing better mid-year visibility into client strategies. This move comes amid economic challenges in the consultancy sector, with a 5% stock drop and tightening corporate spending.

Big changes are happening at Accenture! If you were expecting that year-end promotion, brace yourself&mdash;it's been pushed to June!
According to Bloomberg, Accenture has delayed its promotion cycle by six months, moving it from December to June. Why? A spokesperson says this new schedule gives them better visibility into client strategies and demand levels, which are typically clearer by mid-year.
The consultancy sector is facing some serious challenges with tightening corporate spending and global economic uncertainty.
After the news, Accenture&rsquo;s stock dropped nearly 5%, highlighting the pressure the entire consultancy industry is under. Big names like McKinsey and PwC are also feeling the heat, making staffing adjustments to adapt to these tough times.
Hit the like button and also subscribe to our channel to make sure you stay informed on such updates from the corporate world!
Also Watch: <a href="https://www.editorji.com/business-news/waayu-the-zero-commission-food-delivery-app-aiming-to-revolutionise-indian-dining-1726739254750">WAAYU: The Zero-Commission Food Delivery App Aiming To Revolutionise Indian Dining</a>

Accenture's performance is often seen as an indicator for the Indian IT industry, suggesting potential trends for Indian IT companies

Accenture lowers fiscal year 2024 revenue forecast amid economic uncertainty

Accenture's performance is often seen as an indicator for the Indian IT industry, suggesting potential trends for Indian IT companies

IT services provider Accenture has lowered its revenue forecast for fiscal year 2024 due to economic uncertainty causing clients to cut back on consulting services spending.
As per Moneycontrol report, the revised outlook, announced on June 20, predicts full-year revenue growth between 1.5% and 2.5%, down from the previous forecast of 2% to 5%. Also read/watch - <a title="EPFO adds record 18.92 lakh net members in April" href="https://www.editorji.com/business-news/epfo-adds-record-18-92-lakh-net-members-in-april-1718888188173">EPFO adds record 18.92 lakh net members in April</a>
Accenture's financial year runs from September to August. Despite the lowered forecast, the company's shares rose over 6.5% in premarket trading on the New York Stock Exchange.
The MC report further adds that Accenture's performance is often seen as an indicator for the Indian IT industry, suggesting potential trends for Indian IT companies. The first quarter earnings season for fiscal year 2024-25 begins on July 11, starting with Tata Consultancy Services TCS.

Accenture has decided to skip pay hikes, reduce bonuses and promotions in India and Sri Lanka due to macroeconomic challenges that impacted the company's performance

Accenture scraps pay hikes; to give lower bonuses, fewer promotions in India, Sri Lanka 

<h2>Accenture has decided to skip pay hikes, reduce bonuses and promotions in India and Sri Lanka due to macroeconomic challenges that impacted the company's performance</h2>

Accenture Salary:&nbsp;IT company Accenture will skip giving pay hikes to its employees in India and Sri Lanka in 2023 except where it is legally mandated or where it has committed to it in critical skill areas, reported Moneycontrol. As per the report, Accenture India's Managing Director Ajay Vij has informed the employees about the same via an email.
<h3>Challenging Macro Environment</h3>
Anil Vij has said that the company experienced a macro environment that was more challenging than anticipated at the beginning of the FY23 fiscal year, and growth was lower than expected. The company that follows September-August financial year reported mixed numbers last quarter which was the second-lowest among the beginning of year guidance in the past 16 years.
Also Read: <a href="https://www.editorji.com/business-news/tech-salary-increases-cut-in-half-as-hiring-pace-slows-1692937689935">Tech salary increases cut in half as hiring pace slows</a>
<h3>Anil Vij's Email</h3>
Anil Vij's email accessed by Moneycontrol says,&nbsp;&ldquo;Our rewards philosophy is to provide market relevant pay based on skills and location that is affordable for Accenture. Keeping our payroll aligned with market is essential to the health of our business, including competitive pricing of our services&rdquo;.
&ldquo;Given the context of our performance, we will not be providing any stay-at-level (base pay) increases this year except where legally mandated or committed in a few critical skill areas,&rdquo; he added.
The email further stated that the company will disburse individual performance bonuses based on the individual&rsquo;s contributions, however, it will be significantly lower than last year.
<h3>Bonus Reduction</h3>
The company is also reducing its bonuses as the company didn't perform as expected on which the annual global bonus depends.&nbsp;
&ldquo;&hellip;our global annual bonus funding is based on our company performance. Given our performance, you should expect our global annual bonuses to be significantly lower than last year,&rdquo; the e-mail read.
&nbsp;

Job cuts at Accenture: IT services & consulting firm to lay off 19,000 staff

Over half of these departures will consist of people in Accenture's non-billable corporate functions, the filing said.&nbsp;

IT services and consulting firm Accenture will lay off 2.5 per cent or 19,000 employees over a period of the next one and half years, the company said in a regulatory filing.
Accenture currently employs over 7 lakh people and is estimated to have the largest employee base of 3 lakh people in India.
"While we continue to hire, especially to support our strategic growth priorities, during the second quarter of fiscal 2023, we initiated actions to streamline our operations and transform our non-billable corporate functions to reduce costs. Over the next 18 months, these actions are expected to result in the departure of approximately 19,000 people (or 2.5 per cent of our current workforce)," the company said in a regulatory filing.
Over half of these departures will consist of people in Accenture's non-billable corporate functions, the filing said.&nbsp;
Commenting on the layoffs, the company also said that &ldquo;The people impact is estimated to be 2.5% of our current global workforce. This may differ by market and by country, as a consequence of our different footprint and growth, and should not be taken as a figure applicable to all geographies.&rdquo;.&nbsp;

Paul Daugherty, Group Chief Executive – Technology & Chief Technology Officer, Accenture highlight the trends, challenges and opportunities that lie ahead

NTLF 2022: Reimagining the art of possible with Accenture 

Experts say the combination of physical and digital lives will continue to expand people’s boundaries and opportunities in the coming decade. Are humans ready to embrace these tech innovations? Day 3 of Nasscom Tech and Leadership Forum puts the focus on reimagining the art of possible. During this session Paul Daugherty, Group Chief Executive – Technology & Chief Technology Officer, Accenture highlight the trends, challenges and opportunities that lie ahead, and how a human-centric approach will allow us to apply tech for the better

From Web3.0, Space Internet,&nbsp;Metaverse&nbsp;to&nbsp;Innovation Superclusters&nbsp;NTLF&nbsp;2022 Day 3 puts the focus on the art of the possible

NTLF&nbsp;2022: Experts say the combination of physical and digital lives will continue to expand people&rsquo;s boundaries and opportunities in the coming decade. Are humans ready to embrace these tech innovations?
Day 3 of <a href="https://www.editorji.com/business-news/redefining-ceos-priorities-tech-sustainability-inclusion-ntlf-2022-1645100579069" target="_blank">Nasscom&nbsp;Tech and Leadership Forum(NTLF)</a>&nbsp;puts the focus on reimagining the art of possible. During this session Paul Daugherty, Group Chief Executive &ndash; Technology &amp; Chief Technology Officer, <a href="https://www.editorji.com/story/accenture-raises-guidance-and-dividend-payout-hands-out-bonus-to-employees-1616143247290" target="_blank">Accenture </a>highlight the trends, challenges and opportunities that lie ahead, and how a human-centric approach will allow us to apply tech for the better.
Also Watch:&nbsp;
<a href="https://www.editorji.com/business-news/redefining-ceos-priorities-tech-sustainability-inclusion-ntlf-2022-1645100579069" target="_blank">&bull; Redefining CEOs Priorities - Tech, Sustainability, Inclusion: NTLF 2022</a>
&bull;&nbsp;<a href="https://www.editorji.com/business-news/ntlf-2022-is-your-management-model-eating-ecosystems-for-breakfast-1645096865511" target="_blank">NTLF 2022: Is your Management Model Eating Ecosystems for Breakfast?&nbsp;</a>
&bull;&nbsp;<a href="https://www.editorji.com/business-news/ntlf-2022-how-talent-and-sustainability-will-drive-innovation-in-the-techade-1645082067596" target="_blank">NTLF 2022: How talent and sustainability will drive innovation in the techade</a>
&bull;&nbsp;<a href="https://www.editorji.com/business-news/compounding-the-impact-of-technology-with-krishnan-ramanujam-ntlf-2022-1645076805019" target="_blank">Compounding the Impact of Technology with Krishnan Ramanujam @ NTLF 2022</a>

Accenture reported 21% YoY revenue growth in the Jan-March quarter beating their own guidance and the street estimates. The growth for the consulting giant was broad based, consulting saw a 21% jump year-on-year. Infact four of the five operating groups (and 11 of 13 sub-verticals) grew in the double digits compared to last year's low base. Attrition has been a problem for tech companies across the board. Accenture saw attrition jump to 17% while it added 32,000 new employees which is a 6-year high for the company. Accenture guided for 17%-21% YoY constant currency revenue growth in April-June and raised the revenue growth guidance to 10%- 11% YoY for the fiscal year that closes June 21 (previous guidance was 6.5%-8.5%).

Accenture earnings beats estimates, raises guidance

Consulting giant Accenture&nbsp;raised guidance as earnings&nbsp;beat street estimates, employee addition hits 6-year high.&nbsp;

<a href="https://www.editorji.com/business-news/ntlf-2022-reimagining-the-art-of-possible-with-accenture-1645161065921" target="_blank">Accenture </a>reported 21% YoY revenue growth in the Jan-March quarter beating their own guidance and the street estimates.&nbsp; The growth for the consulting giant was broad based, consulting saw a 21% jump year-on-year. Infact&nbsp;four of the five operating groups (and 11 of 13 sub-verticals) grew in the double digits&nbsp;compared to last year's low base.&nbsp; Attrition has been a problem for tech companies across the board.&nbsp;Accenture&nbsp;saw attrition jump to 17% while it added 32,000 new employees which is a 6-year high for the company.&nbsp; <a href="https://www.editorji.com/business-news/ntlf-2022-reimagining-the-art-of-possible-with-accenture-1645161065921" target="_blank">Accenture </a>guided for 17%-21% YoY constant currency revenue growth in April-June and raised the revenue&nbsp;growth guidance to 10%- 11% YoY for the fiscal year that closes June 21 (previous guidance was 6.5%-8.5%).

It was a blockbuster quarter for consulting major Accenture who raised full-year revenue growth guidance for FY21 to 6.5-8.5% as it saw record new booking clock in at $16 billion.
New bookings in consulting and outsourcing segments were each a record $8 billion.
Accenture announced a one-time bonus, equal to one week of base pay, for its people below managing directorThe company also said it now expects to return at least $5.8 billion in cash to shareholders through dividends and share repurchases

Accenture raises guidance and dividend payout, hands out bonus to employees

Accenture&nbsp;sees a record $13 billion in new bookings which prompts the consultancy major to raise revenue guidance and also hand out one-time bonuses.&nbsp;

It was a blockbuster quarter for tech major Accenture&nbsp;who raised&nbsp;full-year revenue growth guidance for FY21 to 6.5-8.5% as it saw record new booking clock in at $16 billion.
New bookings in consulting and outsourcing segments were each a record $8 billion.
Accenture&nbsp;announced a one-time bonus, equal to one week of base pay, for its people below managing director level.&nbsp;
The company also said it now expects to return at least $5.8 billion in cash to shareholders through dividends and share repurchases.

It was a blockbuster quarter for consulting major Accenture&nbsp;who raised&nbsp;full-year revenue growth guidance for FY21 to 6.5-8.5% as it saw record new booking clock in at $16 billion.
New bookings in consulting and outsourcing segments were each a record $8 billion.
<a href="https://www.editorji.com/business-news/ntlf-2022-reimagining-the-art-of-possible-with-accenture-1645161065921" target="_blank">Accenture</a>&nbsp;announced a one-time bonus, equal to one week of base pay, for its people below managing director The company also said it now expects to return at least $5.8 billion in cash to shareholders through dividends and share repurchases

Accenture lay off: 10,000 jobs at risk in India

Tech giant Accenture is expected to lay off at least 5% of its global workforce due to the Covid-19 crisis. 10000 jobs at risk in India.

Tech giant Accenture is expected to lay off at least 5% of its global workforce due to the Covid-19 crisis. The&nbsp;firm&rsquo;s CEO Julie Sweet told The Australian Financial Review that&nbsp;despite cutting subcontractors and halting fresh recruitment, Accenture still needed to reduce numbers as the pandemic had taken hold.&nbsp;India has the largest Accenture employee base of over two lakh employees and following the decision to fire 5% staff, at least 10,000 people stand the risk of losing their jobs.&nbsp;As many as 25,000 people are likely to be fired across the world as the US-listed firm has a staff count of over five&nbsp;lakh.&nbsp;
&nbsp;

<a href="https://www.editorji.com/business-news/ntlf-2022-reimagining-the-art-of-possible-with-accenture-1645161065921" target="_blank">Tech giant Accenture</a> is expected to lay off at least 5% of its global workforce due to the Covid-19 crisis. The&nbsp;firm&rsquo;s CEO Julie Sweet told The Australian Financial Review that&nbsp;despite cutting subcontractors and halting fresh recruitment, Accenture still needed to reduce numbers as the pandemic had taken hold.&nbsp;India has the largest Accenture employee base of over two lakh employees and following the decision to fire 5% staff, at least 10,000 people stand the risk of losing their jobs.&nbsp;As many as 25,000 people are likely to be fired across the world as the US-listed firm has a staff count of over five&nbsp;lakh.&nbsp;

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